Avanza Fonder AB Acquires New Position in IDEXX Laboratories, Inc. (NASDAQ:IDXX)

Avanza Fonder AB bought a new stake in shares of IDEXX Laboratories, Inc. (NASDAQ:IDXX - Free Report) during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm bought 6,502 shares of the company's stock, valued at approximately $2,688,000.

A number of other institutional investors have also recently added to or reduced their stakes in the stock. Chicago Partners Investment Group LLC grew its position in shares of IDEXX Laboratories by 16.7% in the third quarter. Chicago Partners Investment Group LLC now owns 672 shares of the company's stock valued at $340,000 after purchasing an additional 96 shares during the period. National Pension Service lifted its stake in IDEXX Laboratories by 7.3% in the 3rd quarter. National Pension Service now owns 185,972 shares of the company's stock valued at $93,957,000 after buying an additional 12,647 shares in the last quarter. Insight Wealth Strategies LLC boosted its holdings in IDEXX Laboratories by 230.5% in the 4th quarter. Insight Wealth Strategies LLC now owns 10,096 shares of the company's stock worth $4,174,000 after buying an additional 7,041 shares during the last quarter. Larson Financial Group LLC increased its stake in IDEXX Laboratories by 17,238.5% during the 3rd quarter. Larson Financial Group LLC now owns 2,254 shares of the company's stock worth $1,139,000 after buying an additional 2,241 shares in the last quarter. Finally, Quest Partners LLC raised its holdings in shares of IDEXX Laboratories by 4,059.4% during the third quarter. Quest Partners LLC now owns 2,870 shares of the company's stock valued at $1,450,000 after acquiring an additional 2,801 shares during the last quarter. Institutional investors and hedge funds own 87.84% of the company's stock.

IDEXX Laboratories Trading Down 2.2 %

Shares of NASDAQ IDXX traded down $9.36 during midday trading on Friday, reaching $419.26. 798,777 shares of the stock were exchanged, compared to its average volume of 426,678. The stock has a market capitalization of $34.33 billion, a P/E ratio of 40.43, a PEG ratio of 3.52 and a beta of 1.36. The company has a debt-to-equity ratio of 0.32, a quick ratio of 1.03 and a current ratio of 1.42. The company has a 50 day simple moving average of $423.88 and a 200 day simple moving average of $458.53. IDEXX Laboratories, Inc. has a twelve month low of $398.50 and a twelve month high of $583.39.

IDEXX Laboratories (NASDAQ:IDXX - Get Free Report) last posted its earnings results on Thursday, October 31st. The company reported $2.80 EPS for the quarter, beating analysts' consensus estimates of $2.69 by $0.11. IDEXX Laboratories had a return on equity of 55.42% and a net margin of 22.53%. The company had revenue of $975.50 million for the quarter, compared to the consensus estimate of $980.32 million. During the same quarter in the previous year, the business earned $2.53 earnings per share. The company's revenue for the quarter was up 6.6% on a year-over-year basis. As a group, equities analysts expect that IDEXX Laboratories, Inc. will post 10.44 earnings per share for the current year.

Analysts Set New Price Targets

Several brokerages recently commented on IDXX. StockNews.com upgraded IDEXX Laboratories from a "hold" rating to a "buy" rating in a research report on Thursday, November 28th. Leerink Partners began coverage on shares of IDEXX Laboratories in a report on Monday, December 2nd. They set an "outperform" rating and a $500.00 target price for the company. JPMorgan Chase & Co. decreased their price target on shares of IDEXX Laboratories from $630.00 to $575.00 and set an "overweight" rating on the stock in a research note on Friday, October 11th. Piper Sandler restated a "neutral" rating and set a $435.00 price target (down from $520.00) on shares of IDEXX Laboratories in a research report on Monday, November 4th. Finally, Barclays cut their price objective on shares of IDEXX Laboratories from $570.00 to $481.00 and set an "overweight" rating for the company in a report on Monday, November 4th. Two investment analysts have rated the stock with a hold rating, seven have given a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average target price of $523.86.

Insider Buying and Selling at IDEXX Laboratories

In other IDEXX Laboratories news, Director Sophie V. Vandebroek sold 344 shares of the business's stock in a transaction that occurred on Wednesday, November 27th. The stock was sold at an average price of $420.44, for a total value of $144,631.36. Following the sale, the director now owns 905 shares of the company's stock, valued at $380,498.20. The trade was a 27.54 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 2.18% of the stock is currently owned by corporate insiders.

IDEXX Laboratories Profile

IDEXX Laboratories, Inc develops, manufactures, and distributes products primarily for the companion animal veterinary, livestock and poultry, dairy, and water testing markets in Africa, the Asia Pacific, Canada, Europe, Latin America, and internationally. The company operates through three segments: Companion Animal Group; Water Quality Products; and Livestock, Poultry and Dairy.